Velocity Frequent Flyer has launched a new offer of 20% bonus points when transferring points from selected credit card and hotel loyalty programs. It comes just days after the sale of Virgin Australia to Bain Capital was approved, paving the way for Virgin Australia to emerge from voluntary administration by the end of October. With the … Continued
Virgin Australia creditors have voted to approve the proposed sale to Bain Capital at a virtual meeting. Under the Deeds of Company Arrangement (DOCA) recommended by Virgin’s administrators, Virgin employees and secured creditors will receive 100% of their owed entitlements. Unsecured bondholders, meanwhile, will only receive approximately 9-13 cents per dollar owed. But the administrator … Continued
The final meeting of Virgin Australia creditors is all set to take place on 4 September after Virgin Australia’s administrators handed down their report to creditors this week. The airline’s future will be voted on at a virtual Microsoft Teams meeting scheduled for 10am (AEST) on Friday, 4 September 2020. If the sale to Bain Capital … Continued
Virgin Australia customers would have existing travel credits or conditional flight credits replaced with “Future Flight credits” if the proposed sale to Bain Capital goes ahead. These would be valid to redeem for Virgin Australia flights until 31 July 2022, for travel until 30 June 2023, but would come with restrictions. The sale to Bain … Continued
Virgin Australia’s management and new owners have now outlined their vision for the future of Australia’s second-largest airline. Virgin won’t become a low-cost carrier, we’re told, but will instead aim to be the “best value carrier in the market”. “ The airline will serve business travellers, including corporates and customers travelling for a holiday and visiting … Continued